DLocal reports record Q2 TPV, raises second-half guidance

DLocal (NASDAQ: DLO ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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Access the full call at Summary DLocal reported a record quarter with Total Payment Volume (TPV) reaching $17.7 billion, a 92% year-over-year increase, marking the highest growth since Q1 2022.

Net revenue retention stood at 153% and gross profit increased by 29% to $127 million.

The company is focusing on strategic initiatives including the deployment of AI and automation to improve operational leverage, and expansion into new geographies such as the Asia Pacific.

They are also launching new services like dMOR, a merchant-of-record solution, and expanding their buy now, pay later offering.

For the second half of 2026, DLocal raised its TPV growth guidance to 60-70% year-over-year and gross profit growth to 25-30%.

The company plans to maintain operating profit growth guidance despite previous tax impacts and FX headwinds.

It continues to optimize costs and expects operating leverage improvements as AI initiatives take effect.

Full Transcript OPERATOR Good day and thank you for standing by.

Welcome to the DLocal second quarter 2026 results conference call.

At this time, all participants are in listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you'll need to press star one one on your telephone.

You will then hear an automated message advising your hand is raised.

To withdraw your question, please press star one one again.

Please be advised that today's conference is being recorded.

I will now turn the call over to the company.

Mirele Aragao, Head of Investor Relations Good afternoon and thank you all for joining our earnings call today.

If you have not seen the earnings release, as always, a copy is posted in the Financials section of the Investor Relations website.

On the call today you have Pedro Arndt, Chief Executive Officer; Guillermo Lopez Perez, Chief Financial Officer; Christopher Strohmeier, SVP of Corporate Development; and Mirele Aragao, Head of Investor Relations.

A slide presentation has been provided to accompany the prepared remarks.

This event is being broadcast live via webcast, and both the webcast and presentation may be accessed through DLocal's website at investor.dlocal.com.

The recordings will be available shortly after the event has concluded.

Before proceeding, let me mention that any forward-looking statements included in the presentation or mentioned in this conference call are based on currently available information and DLocal's current assumptions, expectations, and projections about future events.

Whilst the company believes that our assumptions, expectations, and projections are reasonable given currently available information, you are cautioned not to place undue reliance on those forward-looking statements.

Actual results may differ materially from those included in DLocal's presentation or discussed in this conference call for a variety of reasons, including those described in the Forward-Looking Statements and Risk Factors section of DLocal's filings with the Securities and Exchange Commission, which are available on DLocal's Investor Relations website.

Now I will turn the conference over to DLocal.

Thank you.

Pedro Arndt, Chief Executive Officer Good afternoon everyone and thank you for joining us today.

Our results for the second quarter of 2026 are yet another proof point of our continued traction and execution.

There are four main trends I'd like to kick off with that best summarize the current strength of our business.

TPV reached $17.7 billion, accelerating to 92% year over year, the highest growth rate since the first quarter of 2022.

We've processed more in the second quarter than what we did throughout all of 2023.